This was looking like a bearish Crab , but for now price has stopped short of the 1.618 which is where the last leg of the Crab should land.
I have been seeing many Ws that are ending at the 1.414 so I added it to my fib table.
I do not know if it will stop here and have searched for the name of the pattern without success.
This could proceed to the 1.618 but the other 3 I have spotted with this W, did not proceed past the 1.414 as of yet. The others turned down at this point and did not return to go to the 1.618 as of yet.
Pocket pivots noted at the support level .
The longer term moving averages still look good which is unusual as of late.
Extension pattern and BJs beat earnings and has enjoyed a long leg up.
I am not sure if this will go down in sympathy with other retailers.
Costco has earnings on 9-22 AMC . Analysts have raised the target for Costco to beat which is unusual as of late. It is almost $1 over last quarters estimate.
Most Earnings I have looked at have been lowered since last quarter.
No recommendation/Watching for now.
I have been seeing many Ws that are ending at the 1.414 so I added it to my fib table.
I do not know if it will stop here and have searched for the name of the pattern without success.
This could proceed to the 1.618 but the other 3 I have spotted with this W, did not proceed past the 1.414 as of yet. The others turned down at this point and did not return to go to the 1.618 as of yet.
Pocket pivots noted at the support level .
The longer term moving averages still look good which is unusual as of late.
Extension pattern and BJs beat earnings and has enjoyed a long leg up.
I am not sure if this will go down in sympathy with other retailers.
Costco has earnings on 9-22 AMC . Analysts have raised the target for Costco to beat which is unusual as of late. It is almost $1 over last quarters estimate.
Most Earnings I have looked at have been lowered since last quarter.
No recommendation/Watching for now.
Comment:
This is an extension pattern meaning the last leg up terminates (D) above the beginning of the 1st leg down (X)
